Twitter to the rescue
When it rains it pours; the world was in a recession the stock market in Nigeria had collapsed and we had lost a president and were in a state of flux waiting for elections .
Yet the price of raw materials kept going up squeezing already tight margins and the competition refused to raise prices , choosing instead in some cases to drop quality
Betting on the power of our brand we increased prices in line with raw material increases to protect our margins
Tightened our belts to deal with the loss of turnover
And with the lull in sales we had time give the business a good look. We had always read voraciously about business and economics and kept up to date on best practice etc and then twitter entered into our lives!
Twitter was indeed a revelation all of a sudden we had this amazing resource, this pool of people to learn from, we followed a broad range of specialists and a chance comment would send us on our next journey .
White label! was the comment made while discussing branding , it would stick in our consciousness until we had to do something about it. At first this sounded like rubbish why would you white label a product that depends almost entirely on the power of your brand to sell ? but slowly it became clear that the brand and the product needed to be differentiated
We already had a product list as long as my arm and we knew their were several tiers in the market for quality and prices we decided to play all fields as it said on our twitter page “we make paint”
By commoditising our product we decided to be Toyota instead of being a Rolls Royce we would make products to fit every criteria from price to quality streamlining our product list to compete with the cheapest in price ensuring we were at the entry point and not shut out , and also the best in quality .Power resides with the customers , so let the customer choose.